This contentedness is powered by, a accredited indemnity manufacturer ( NPN : 8781838 ) and a corporate affiliate of LLC services are only available in states were it is licensed and insurance coverage through may not be available in all states. All indemnity products are governed by the terms in the applicable insurance policy, and all relate decisions ( such as approval for coverage, premiums, commissions and fees ) and policy obligations are the sole province of the cover insurance company. The information on this site does not modify any indemnity policy terms in any way. is an independent, advertising-supported publisher and comparison serve. We are compensated in exchange for placement of sponsor products and, services, or by you clicking on sealed links posted on our site. therefore, this compensation may impact how, where and in what order products appear within listing categories. early factors, such as our own proprietary web site rules and whether a product is offered in your area or at your self-selected credit seduce range can besides impact how and where products appear on this web site. While we strive to provide a wide range offers, Bankrate does not include information about every fiscal or credit product or service. We ’ re transparent about how we are able to bring quality subject, competitive rates, and utilitarian tools to you by explaining how we make money. Bankrate follows a nonindulgent editorial policy, so you can trust that our contented is honest and accurate. Our award-winning editors and reporters create honest and accurate subject to help you make the right fiscal decisions. The capacity created by our column staff is objective, actual, and not influenced by our advertisers.

You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life ’ s fiscal travel. Bankrate ’ s editorial team writes on behalf of YOU – the subscriber. Our goal is to give you the best advice to help you make fresh personal finance decisions. We follow rigid guidelines to ensure that our editorial capacity is not influenced by advertisers. Our column team receives no direct recompense from advertisers, and our content is thoroughly fact-checked to ensure accuracy. therefore, whether you ’ re reading an article or a review, you can trust that you ’ re getting credible and dependable information. We prize your faith. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in rate to ensure that happens. Our editors and reporters thoroughly fact-check editorial message to ensure the data you ’ rhenium interpretation is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers. Bankrate follows a hard-and-fast editorial policy, so you can trust that we ’ ra putting your interests beginning. Our award-winning editors and reporters create honest and accurate content to help you make the properly fiscal decisions. All providers discussed on our locate are vetted based on the value they provide. And we constantly review our criteria to ensure we ’ re putting accuracy first. Our policy team is composed of agents, data analysts, and customers like you. They focus on the points consumers care about most — price, customer serve, policy features and savings opportunities — indeed you can feel confident about which provider is right for you. Bankrate follows a stern editorial policy, so you can trust that we ’ ra putting your interests first. All of our content is authored by highly qualify professionals and reviewed by subject matter experts, who ensure everything we publish is objective, accurate and worthy of your trust. Founded in 1976, Bankrate has a long track record of helping people make chic fiscal choices. We ’ ve maintained this reputation for over four decades by demystifying the fiscal decision-making process and giving people confidence in which actions to take next. While we adhere to strict editorial integrity, this stake may contain references to products from our partners. here ‘s an explanation for how we make money. This message is powered by ( NPN : 8781838 ). For more information, please see our Insurance disclosure. New Mexico drivers pay an average of $385 per year for minimum coverage car insurance and $1,419 per year for full coverage, both of which are below the national average. If you are looking for the cheapest car policy in New Mexico, you may want to get quotes from USAA, Geico, State Farm, Farmers and Progressive. Although finding cheap car indemnity in New Mexico could be a precedence, you should not skimp on coverage. A car accident occurs every 11 minutes in New Mexico, based on crash data from 2019. car policy is legally required in New Mexico, but beyond that, it is an crucial consideration to protect your fiscal health. Bankrate ’ s inquiry may be able to help you find cable car indemnity in New Mexico that fits your budget and protects your finances from the consequence of car accidents .

The cheapest car insurance in New Mexico

In the search for the cheapest car indemnity in New Mexico, Bankrate ’ s indemnity editorial team beginning worked with Quadrant Information Services to obtain stream bounty information for the largest policy companies in the Land of Enchantment. however, the price of New Mexico car policy is not the only consideration when you are looking for coverage. We besides reviewed each company ’ s available coverages, discounts, policy features and third-party rankings. If you are looking for the cheapest car policy in New Mexico, but do not want to sacrifice solid coverage, these companies might be worth considering :

Car insurance company Average annual premium for minimum coverage Average annual premium for full coverage
USAA $270 $1,102
Geico $348 $1,463
State Farm $354 $1,396
Farmers $389 $1,278
Progressive $448 $1,310


If you are a current member of the military, a veteran or an immediate syndicate extremity, you might want to start your New Mexico cable car insurance search with USAA. The company is well known for its exceptional customer service, receiving high scores from J.D. Power, despite being ineligible for official rank ascribable to its eligibility restrictions. The brassy average minimum coverage and full coverage rates are far complemented by USAA ’ s military-focused discounts, like savings for storing your vehicle while you are deployed and for garaging your car on a military establish. Learn more: USAA Insurance inspection


If you do not qualify for USAA but are looking for the bum policy possible, Geico could be a dear match. Customers may enjoy the company’s low rates as well as its extensive list of discounts offered, including savings for federal employees, good students and safe drivers. With only a few optional coverages available, Geico ’ south policies do not offer much room for personalization, but if you need basic coverage at a low price, it might be worth getting a quote. Learn more: Geico Insurance review

State Farm

As the largest personal car insurance company in the U.S., State Farm has established a track record for quality coverage and serve. State farm might be appealing if you like working with local agents at brick-and-mortar offices for your insurance needs. The company is known for rewarding safe drivers as well, with two safe driving programs. Drive Safe & Save is designed for adults, while Steer Clear is geared toward drivers under 25. Both programs might save you money while helping you or your young driver learn safer driving skills. Learn more: State Farm Insurance review


Farmers ’ minimum coverage might be slightly higher than New Mexico ’ randomness average, but its full coverage is quite a bit cheaper. You may want to consider a quote from Farmers if you are looking for a highly personalizable policy with numerous optional coverages. To round out your coverage, you could consider adding car rental reimbursement, towing and wayside aid, ridesharing coverage, guaranteed value coverage or custom-make equipment coverage. Learn more: Farmers Insurance review


Although its minimal coverage premium is the highest on our list, you might want to take the time to get a quotation mark from Progressive. If you like to handle your indemnity needs online, you might earn extra savings from Progressive. You might qualify for a discount if you get your quote online, purchase your policy online and sign up for paperless statements. Additional savings opportunities include being a homeowner ( even if you do not insure your dwelling with Progressive ), paying in full and signing up for the Snapshot driver program. Learn more: Progressive Insurance review

Minimum coverage requirements for New Mexico drivers

car policy is legally required in New Mexico, as it is in most states. To drive legally in New Mexico, you must carry at least the keep up minimal limits :

  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $10,000 property damage liability to others

New Mexico cable car indemnity companies are besides required to offer you uninsured motorist coverage and underinsured motorist coverage in the lapp limits as your liability coverage, but you do have the option to reject these coverages in write. however, over 21 % of New Mexico drivers are estimated to be uninsured, so accepting these coverages could help spare you fiscal hardship if you are hit but an uninsured or underinsured driver. Drivers looking for a brassy car indemnity policy will much pay the lowest rate if they buy minimum coverage policy. If you cause an accident, your indemnity can step in to help pay, but because minimum limits are relatively first gear, you are exposed to the risk of having goodly out-of-pocket expenses if you cause a serious accident. Minimum limits besides do not provide you any coverage for damage to your own vehicle. For that, you need full moon coverage, which adds comprehensive examination and collision. If you financed your vehicle, your lender will likely require full coverage .

How to get cheap car insurance in New Mexico

There are many ways that drivers can get brassy car indemnity in New Mexico. hera are some things to you might want to consider doing to find a competitively priced policy :

  • Shop around: Different companies have different rating systems, so you will often get different quotes for the same coverages. Getting quotes from several companies might help you find the coverage you need for a lower price.
  • Utilize discounts: Most companies offer at least a few discounts that could lower your premium. Buying your home, condo or renters insurance from the same company as your auto policy is often one of the biggest discounts. Other common savings include telematics programs, vehicle safety discounts and teen driver discounts.
  • Drive safely: Tickets, DUI convictions and auto insurance claims tend to make insurance companies view you as a high-risk driver, meaning you will likely pay more for insurance. Maintaining defensive driving habits and keeping a clean driving record could shield you from rate increases.
  • Increase your deductibles: If you have full coverage, your comprehensive and collision coverages both have deductibles. Your deductible is the amount you will pay out of pocket if you file a claim for damage to your vehicle. Increasing one or both of your deductibles will typically lower your premium, but be sure to choose an amount that will not negatively impact your finances if you file a claim.

car indemnity in New Mexico is lower on median than it is nationally. But with a little research, a few quotes and cognition of how to lower your premium, you might find coverage at an even better price .

Frequently asked questions

What is the best car insurance in New Mexico?

The best New Mexico cable car insurance company will vary based on each driver ’ mho individual needs, wants and denounce factors. Making a tilt of what you are looking for — like the lowest price, certain coverages, a mobile app or highly-rated customer military service — and then getting quotes from respective providers might help you find the right option for you .

What is the average cost of car insurance in the U.S.?

In the United States, the average driver pays $ 1,674 per year for a full coverage insurance policy. In New Mexico, the average annual full coverage premium is $ 1,419. On average, drivers in New Mexico pay less for car indemnity compared to the average american english. however, when it comes to the share of annual income spent on cable car policy, New Mexico drivers pay a bit more. Drivers in the U.S. as a hale spend about 2.44 % of their income on car insurance, while drivers in New Mexico spend about 2.67 % of their annual income on car policy .

What happens if you get caught without insurance in New Mexico?

Driving without car insurance is illegal in New Mexico. If you are caught driving without insurance, you could face fines, license suspension and criminal charges. If you cause an accident without insurance, you will be responsible for paying for the damages and injuries out of air pocket. If you are unable to pay, you could face a lawsuit.


Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean drive record, well credit and the follow full coverage limits :

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimal coverages that meet each state ’ south requirements. Our base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually. These are sample rates and should only be used for relative purposes .

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